Integrated Wind Solutions ASA ("IWS") has, through its wholly-owned subsidiary, IWS Fleet AS ("IWS Fleet"), entered into a frame term agreement withSiemens Gamesa Renewable Energy A/S ("Siemens Gamesa "), one of the leading turbine manufacturers in the offshore wind industry. IWS Fleet will, under the agreement, provide the Skywalker-class walk-to-work CSOVs to support offshore turbine commissioning works across multipleSiemens Gamesa offshore projects inNorth Europe over a three-year period starting in 2025. The minimum commitment under the charter agreement covers about 1,300 days with a revenue backlog ofEUR 51-55 million . Furthermore, IWS Fleet has a first right of refusal to provide more vessel capacity ifSiemens Gamesa has additional requirements.Bo Sommer Jacobsen , Head of Marine Operation,Siemens Gamesa commented: "We are pleased to partner withIntegrated Wind Solutions and IWS Fleet for our upcoming project portfolio inNorthern Europe . This agreement is an important strategic step forSiemens Gamesa to execute our backlog in the coming years. This collaboration, underpinned by IWS's commitment aligns with our goal to lead the offshore wind industry with innovative and sustainable solutions." Lars-Henrik Røren, the CEO, commented: "The award of this frame term agreement is a quality stamp to IWS Fleet's ability to deliver high-quality, high operability and flexibility to an industry-leading offshore wind turbine provider. This agreement is a significant milestone for IWS and improves the company's earnings visibility and financial strength.Christopher Andersen Heidenreich , COO and Managing Director of IWS Fleet, commented: "We are very proud to announce this strategic partnership withSiemens Gamesa Renewable Energy , which is a testament to IWS Fleet. This agreement is one of the largest contracts ever awarded for walk-to-work turbine commissioning, confirming the success of our strategy to build identical and interchangeable vessels supported by a strong organisation onshore and onboard the vessels. We look forward to showcasing the Skywalker class vessels to our clients." For further information, please contact: Lars-Henrik Røren CEOIntegrated Wind Solutions Phone: +47 98 22 85 06 E-mail: lhr@integratedwind.com Marius Magelie CFOIntegrated Wind Solutions Phone: +47 920 27 419 E-mail: mm@integratedwind.com About:Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels to the offshore wind industry combined with a suite of adhering services to reduce the levelised cost of energy ("LCOE") for offshore wind. The Company's first Commissioning Service Operation Vessels ("CSOVs") is en route toEurope to commence its first charter contract and the Company has five additional CSOVs under construction with delivery in 2024 and 2025 in addition to options for two additional vessels. Furthermore, IWS owns the offshore wind supply-chain service company, IWS Services A/S and has a 30% ownership in the independent advisor, consultancy, data intelligence and wind farm operator firmPEAK Wind Group . This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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